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Latest Bankrupcy: Joe's Sports & Outdoor

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The Oregon retailing icon, bought by the equity firm Gryphon Investors of San Francisco in 2007, has no immediate plans for layoffs and will cover its 1,600 employees' salaries and benefits through a potential sale, said John Mangan, a Joe's spokesman.

Mangan said he was unaware of any potential buyers or discussions.

"This filing gives us time to continue to operate all of (Joe's) 30 stores while it can work on options," Mangan said of the sporting goods chain, which operates in Oregon, Washington and Idaho. The company said the $50 million it recently secured in debtor-in-possession financing also could help on that front.

Link.

Announcements So Far

Bankruptcies and Liquidations:

Potential Bankruptcies & Liquidation Impact: 884 confirmed closures out of about 2,261 stores

Announced Closings

Total Closings: up to 880 U.S. stores

Potential Impact of All Announcements to Date: 1,764 closures out of up to 3,141 potentially affected U.S. stores

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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